Weyco Group, Inc. (NASDAQ:WEYS) Sees Large Growth in Short Interest

Weyco Group, Inc. (NASDAQ:WEYS) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 94,402 shares, a growth of 24.7% from the November 30th total of 75,684 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 17,365 shares, the short-interest ratio is currently 5.4 days. Based on an average daily volume of 17,365 shares, the short-interest ratio is currently 5.4 days. Currently, 1.5% of the company’s shares are short sold.

Insider Transactions at Weyco Group

In other Weyco Group news, VP Dustin Combs sold 1,059 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $30.09, for a total transaction of $31,865.31. Following the transaction, the vice president directly owned 3,455 shares in the company, valued at $103,960.95. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 35.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weyco Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Weyco Group by 172.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,133 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Weyco Group in the 3rd quarter valued at approximately $105,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Weyco Group in the 2nd quarter valued at approximately $204,000. Finally, IFG Advisory LLC acquired a new stake in shares of Weyco Group in the 2nd quarter valued at $219,000. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Weyco Group Stock Down 1.6%

Weyco Group stock opened at $30.79 on Wednesday. Weyco Group has a 52-week low of $25.51 and a 52-week high of $38.19. The firm has a market cap of $294.04 million, a PE ratio of 12.12 and a beta of 0.93. The company’s 50 day moving average is $31.01 and its two-hundred day moving average is $30.80.

Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings data on Tuesday, November 4th. The textile maker reported $0.69 earnings per share for the quarter. The business had revenue of $73.12 million for the quarter. Weyco Group had a return on equity of 9.82% and a net margin of 8.71%.

Weyco Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, November 17th. This represents a $1.08 annualized dividend and a yield of 3.5%. Weyco Group’s dividend payout ratio is 42.52%.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.